Financial Company Is Mum on Why Stock Jumped 20% Monday

by Christopher Freeburn | May 14, 2013 11:59 am

[1]Chinese wealth management firm Noah Holdings (NYSE:NOAH[2]) issued a statement on Tuesday[3] saying that it had been contacted by the New York Stock Exchange over “unusual market activity” involving its shares.

On Monday, Noah shares jumped more than 20%. That followed a 8% rise on Friday. The company indicated that it would not speculate about the causes of any unusual market activity or comment on rumors due to existing policies.